High palm oil prices send MP Evans’ profits up

Palm oil prices have settled a little since their 2024 high, but remain up on average

(Image: Getty Images)

Palm oil producer MP Evans has boasted a strong 2024 profit performance.Sustainable palm oil producer MP Evans is set to reveal “strong” 2024 financials, driven by palm oil price hikes.

A 13% rise to $823 per tonne in the average mill-gate price for its crude palm oil is the backbone of MP Evans’ strong financial results.

Palm oil prices reached a highThe second half of 2024 was “particularly robust”, seeing dispatches averaging around $950 per tonne, especially in the last two months of the year.

Palm oil prices reached their highest point in two years last year, sending some buyers towards other fats.

The high prices had a “positive effect” on MP Evans’ revenue and profitability, which the business highlighted in a November update.

2025 palm oil prices still at a highPricing had settled from their highs at the end of 2024, though continued this year to be perform at “higher than the 2024 average price”.

“The Group has, once again, delivered excellent operational results in 2024, notwithstanding some weather-related challenges during the year,” said MP Evans chairman Peter Hadsley-Chaplin.

“Combining this with the robust price environment, the Group will deliver a strong result for 2024, enabling it, as a responsible palm-oil producer focused on excellence, to recommit to its strategic priorities to deliver continuing growth and an increasing yield.”